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Obama, EPA To Push for Restoration of Superfund Petrochemical Tax

"There is no question that the Superfund program, first established 30 years ago to clean up sites around the country contaminated with hazardous waste, is facing a budget crunch.

For 15 years, the government imposed taxes on oil and chemical companies and certain other corporations. The money went into a cleanup trust fund, which reached its peak of $3.8 billion in 1996. But the taxes expired in 1995, and because Congress refused to renew them, the fund ran out of money.

Now the Obama administration will push to reinstate the "Superfund" tax. The Environmental Protection Agency, which rarely urges passage of specific bills, will send a letter to Congress as early as Monday calling for legislation to reimpose the tax. "